I could try to open a fund. Any better ideas where to get it funded from?
Thanks
Mike

http://www.marketocracy.com
Once you've done that, have your performance audited by an independent third party. It could look like this:
http://www.inside-alpha.com/support-files/ifsa_perf_summary_2003-2005.pdf
With this in hand, you can start looking for investors. There's so much money around that it shouldn't be too much of a problem if you're good.
Let's make money!
Good luck
Marc

You can visit http://stocksguide.checkouttoday.info for some useful tips and info related to your query. Good luck!


See for example this paper
http://citeseer.ist.psu.edu/275082.html
that shows day traders ("active traders") underperforming the market by -35%.
Or this one based on 135,000 daytraders in Taiwan that shows 80% of them losing:
http://faculty.haas.berkeley.edu/odean/papers/Day%20Traders/Day%20Trade%20040330.pdf
Here's a pretty good summary:
http://www.investorhome.com/daytrade/profits.htm
2: the highest price for the previous day
3: the close price of the previous day
4: the number of shares of stock traded that previous day
5: the net change of stock price from the previous day
which one is it

It's unfortunate, but the newspaper stock tables are going away and moving to the Internet.
2: the highest price for the previous day
3: the close price of the previous day
4: the number of shares of stock traded that previous day
5: the net change of stock price from the previous day
which one is it


PS – You look ridiculous in your photo! What is with the goatee? That is so 2006!!!

Take 6 months to a year reading, learning and paper trading.
You fully understand the fundemental and technical aspects &(just as important) use very exact money management techniques.
Ignoring the above will put you with the 95% of people that blow their FX accounts (usually very very very quickly).
Consider yourself warned!
This is a great market for those that take the time and make the effort. All others lose big.

Is that enough to open an account and start the real work?
My original work is with computers so I always have access to internet during the work… I was thinking if I open an account and start with maybe $5k day trading.
1-Do I have to pay some monthly fees for the account that I open or I wont have any expenses if I dont trade?
Any more info would be appreciated ![]()
I have been trading IT stocks mostly (AAPL, msft, goog,…)

There's not really a big problem in beginning to daytrade, but you need to be cautious. I'd advise you read this http://www.nyse.com/pdfs/im01-9Microsoft%20Word%20-%20Document%20in%2001-9.pdf
Then, you may want to continue paper trading, but you can trade for real if you set up strict losses. When I kick up my live account, I will close all my positions immediately if I lose 20%. Then, I will go back through my journals, the charts, and more paper trading until I get it right.
You can get all expenses lists from the individual sites under their fees + comissions and/or pricing tabs. If you are unclear of what they all are, just email the brokerage (I did this with several of tradeking's fees). You will need to get used to emailing and contacting people and services you will use or look into. Half of the battle of trading is finding everything you need — brokerage, information resources, software, data feeds, etc.
I've probably spent about half my time doing those kinds of things.


